ESSAR

Essar Power is one of India's leading private power producers with a 14-year operating track record. The company's power business currently has seven operational power plants in India and one operational power plant in Algoma, Canada, with a total installed generation capacity of 3,910 MW. This capacity is increasing to 6,700 MW by March 2014. Essar Energy also has access to approximately 500 mmt of coal resources across seven coal blocks in India and overseas. Essar Power — Hazira (515 MW) Commissioned in October 1997,the Essar Power-Hazira power plant is a multi-fuel (naphtha, high-speed diesel, natural gasoline liquid and/or natural gas) combined-cycle power plant located near the Essar Steel facility in Hazira, Gujarat. Essar Steel and GUVNL, the Gujarat State power utility, purchase 215 MW and 300 MW of the power, respectively. They are responsible for providing the fuel required at the power plant to generate the power. Vadinar Power — Jamnagar (120 MW) The Vadinar Power power plant,located at the Vadinar refinery complex, is one of the Vadinar refinery's captive power and steam co-generation plant. The plant is a 120 MW refinery residue-based multi-fuel, captive, co-generation plant, with capacity to generate 77 MW of power and 230 tph of steam. Essar Oil provides the fuel required at the power plant to generate the power and steam for the power plant's operations. Bhander Power — Hazira (500 MW) The Bhander Power-Hazira plant, located in Hazira, Gujarat, is a natural gas-fired combined-cycle captive power plant. The plant was commissioned in 2006 and commenced full commercial operations in October 2008. Essar Steel and other Essar Affiliated Companies are responsible for providing the natural gas required by the Bhander Power-Hazira plant, and in turn take the power generated pursuant to their PPAs with Bhander Power. Algoma Power Plant — Canada (85 MW) Essar Power (Canada) (formerly Algoma Energy LLP) owns and operates the Algoma Power Plant in Ontario, Canada. This 85MW co-generation plant was commissioned on June 13, 2009. The plant's facilities include two 375,000 pound/hour boilers and a 105 MW turbine. The power plant converts waste gases from Essar Steel, Algoma, into electricity and steam for the steelworks. And 63 MW of the power produced is sold to the Ontario Power Authority pursuant to a 20 year power purchase agreement which expires in 2029. Vadinar P1 — Gujarat (380 MW) The Vadinar P1 power plant, located at the Vadinar refinery complex, is the Vadinar refinery's second captive power plant. This plant is a 380 MW natural gas-fired combined- cycle plant. This plant was the first to be commissioned since the company's IPO in May 2010. Essar Oil provides the fuel required at the power plant to generate the power and steam for the power plant's operations. Salaya I — Gujarat (1,200 MW) The Salaya I power plant, located near Essar Oil's refinery complex at Vadinar, Jamnagar district, Gujarat, is an imported coal-fueled thermal power plantwith two 600-MW generation units. Salaya I Unit 1 (600 MW) started commercial operations from April 2012. Coal for the plant will be extracted from Essar Energy's captive coal mine in Indonesia. Vadinar P2 — Gujarat (510 MW) Vadinar P2 power plant consistsof a multi-fuel (coal, naphtha, light cycle oil, clarified slurry oil and furnace oil) co-generation power plant with 325 MW of power capacity and 900 tons per hour (tph) of steam capacity. Steam from the facility will be provided to Essar Oil's Vadinar refinery and power supplied to Essar Oil, Essar Steel and the merchant market. Fuel for Vadinar P2 will be provided by Essar Oil and Essar Steel in line with their purchase requirements. Mahan I — Madhya Pradesh (1,200 MW) The Mahan I power plant is a 1,200 MW (2x600 MW) captive coal-fired pit-head power plant located in Singrauli district, Madhya Pradesh. Mahan I Unit I began commercial operations inDecember 2012. Coal for the plant will be supplied from the Mahan captive coal block located approximately 5 km from the power plant site